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One of market’s biggest bulls takes a ‘few chips off the table,’ sees impending sell-off

One of market’s biggest bulls takes a ‘few chips off the table,’ sees impending sell-off

Finance
One of the market's biggest bulls is on sell-off watch. Federated Investors' portfolio manager Steve Chiavarone sees a 5 to 8 percent drop in stocks before summer ends. And, he thinks it may have already started. "We've taken a few chips off the table," the portfolio manager said Friday on CNBC's "Trading Nation," and he cited uncertainty as the overwhelming reason why. "On average, midterm election years have pullbacks, particularly in the summer months," Chiavarone said. "Big trade rhetoric is going to continue to be hot." ...